Overview of China's industrial coatings market in 2023

According to statistics from the China Coatings Industry Association, during the "Thirteenth Five-Year Plan" period, China's industrial coatings output increased from 6.338 million tons to 10.006 million tons, accounting for 36.9% to 40.7% of total output. Industrial coatings sales in 2023 are expected to exceed 15 billion, accounting for about half of the world; The output of architectural coatings increased from 10.838 million tons to 14.585 million tons, and its proportion in total output decreased from 63.1% to 59.3%. The development speed of industrial coatings is higher than that of architectural coatings, and the demand for environmentally friendly coatings in the industrial field has increased.

In 2023, the types of industrial coatings will be 40% solvent-based coatings and 35% water-based coatings, while the automobile manufacturing sector will become the largest market, expected to account for more than 30% of the total market share, showing a steady growth trend. Water-based industrial coatings and environmentally friendly coatings will become market hotspots and innovation directions, occupying the forefront of growth. Coatings such as water-based high-temperature coatings and environmentally friendly anticorrosive coatings will be key development areas, and are expected to account for three-quarters of the industrial coatings market.

Technological innovation trends

1. Technical and environmental requirements for water-based coatings

As global requirements for environmental protection increase, water-based coating technology is becoming increasingly important in the industrial coatings market. In the next few years, the market will further promote water-based coatings and Europe and other regions will implement stricter environmental protection regulations in the next few years.

2. Automated and digital production

As the automation and digitalization of global industrial production increase, the industrial coatings industry will also usher in benefits such as improved production efficiency and improved quality control accuracy.

3. New materials and application technologies

The development of new materials such as metal-organic framework materials, semiconductor materials, etc., as well as the application and development of application technologies such as nanotechnology, optical coatings, etc. will also promote the industrial coatings market to present new development trends in 2023.